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All Combined Lectures - Consumer Behavior | MKT 3350, Study notes of Marketing

Chapters 1-4 Outline Material Type: Notes; Professor: Jillapalli; Class: CONSUMER BEHAVIOR; Subject: Marketing; University: Texas State University - San Marcos; Term: Fall 2012;

Typology: Study notes

2011/2012

Uploaded on 09/26/2012

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Chapter 1 Outline: Consumer Behavior and Marketing Strategy
Consumer behavior is the study of individuals, groups, or organizations and the processes they use to select,
secure, use, and dispose of products, services, experiences, or ideas to satisfy needs and the impacts that
these processes have on the consumer and society.
Applications of Consumer Behavior:
1. Marketing Strategy: We need to identify the NEEDS of the consumers and how to FULFILL those needs
2. Regulatory Policy: Are those needs illegal?
3. Social Marketing: How do we create or alter needs that are positive to our society?
4. Informed Individuals: You become a better consumer yourself.
Marketing Strategy:
Market Analysis Market Segmentation Marketing Strategy Consumer Decision Process Outcomes
Market Analysis Components:
1. The Consumers: What do people want?
2. The Company: Can you produce them?
3. The Competitors: Who are you up against?
4. The Conditions: How are the surroundings? Economy?
Market Segmentation: involves four steps…
1. Identifying product related need sets
2. Grouping customers with similar need sets
3. Describing each group
4. Selecting an attractive segment to serve
Marketing Strategy: This requires the formulation of a consistent marketing mix, which includes the
1. Product
2. Price
3. Promotions (Communications)
4. Place (Distribution), and where would you go to get it?
5. Services
Outcomes:
1. Firm Outcomes – looking for profit
2. Individual Outcomes – individuals are happy
3. Society Outcomes – if consumers have money then our society is doing well
4. Environment
Creating Satisfied Customers: Customer Satisfaction (CS)
Total Product Consumer Decision Process Superior Value Expected Sales Perceived Value Derived CS
Perceived Need: What they want outside of the actual need…
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Chapter 1 Outline: Consumer Behavior and Marketing Strategy

Consumer behavior is the study of individuals, groups, or organizations and the processes they use to select,

secure, use, and dispose of products, services, experiences, or ideas to satisfy needs and the impacts that

these processes have on the consumer and society.

Applications of Consumer Behavior:

1. Marketing Strategy : We need to identify the NEEDS of the consumers and how to FULFILL those needs

2. Regulatory Policy: Are those needs illegal?

3. Social Marketing: How do we create or alter needs that are positive to our society?

4. Informed Individuals: You become a better consumer yourself.

Marketing Strategy: Market Analysis  Market Segmentation  Marketing Strategy  Consumer Decision Process Outcomes Market Analysis Components:

  1. The Consumers: What do people want?
  2. The Company: Can you produce them?
  3. The Competitors: Who are you up against?
  4. The Conditions: How are the surroundings? Economy? Market Segmentation: involves four steps…
  5. Identifying product related need sets
  6. Grouping customers with similar need sets
  7. Describing each group
  8. Selecting an attractive segment to serve Marketing Strategy: This requires the formulation of a consistent marketing mix, which includes the
  9. Product
  10. Price
  11. Promotions (Communications)
  12. Place (Distribution), and where would you go to get it?
  13. Services Outcomes:
  14. Firm Outcomes – looking for profit
  15. Individual Outcomes – individuals are happy
  16. Society Outcomes – if consumers have money then our society is doing well
  17. Environment Creating Satisfied Customers: Customer Satisfaction (CS) Total Product Consumer Decision Process  Superior Value Expected Sales  Perceived Value Derived CS Perceived Need: What they want outside of the actual need…

Chapter 2 Outline: Cross-Cultural Variations in Consumer Behavior There are external influences that affect the way we think and feel about the way we live. External Influences that affect consumer behavior:

  1. Language
  2. Demographics
  3. Values – Most important…cultural values
  4. Nonverbal Communications Why is globalization important? Because we need to know how to segment consumers and market to them. Four major world citizens:
  5. Global citizens – you are positive to international products, better quality, socially responsible
  6. Global Dreamers – All the same as global citizens but don’t care about corporately and socially responsible.
  7. Anti-globals – HATE international products/our American values.
  8. Global Agnostics – Don’t care where it’s made , “prove to me it’s good and ill buy it” i.e. U.S. The concept of culture: Culture is the complex whole that includes knowledge, belief, art, law, morals, customs, and any other capabilities and habits acquired by humans as members of society. Cultural values give rise to norms and associated sanctions (penalties for exceeding the norms) which in turn influence consumption patterns. Variations in Cultural Values:
  9. Other-Oriented Values – the relationship between the individual and the group (family, friends, region)
  10. Environment-Oriented Values – economic, technological, and physical
  11. Self-Oriented Values – your objectives in life, what do you find most desirable? Other – Oriented Values: These are the reasons why cultures are different. Explains the relationship between the individual and the group.
  12. Individual / Collective
  13. Youth / Age
  14. Extended / Limited Family
  15. Masculine / Feminine
  16. Competitive / Cooperative
  17. Diversity / Uniformity Environment – Oriented Values: Oriented Values: Economic, Technological, and Physical
  18. Cleanliness
  19. Performance / Status
  20. Tradition / Change
  21. Risk Taking / Security

Chapter 3 Outline: The Changing American Society - Values Changes in American Cultural Values Cultural Values – Widely held beliefs that affirm what is desirable. Marketing Strategy and Values:

1. Green Marketing:  Products are less harmful to the environment  Products that have a positive impact on the environment; or  Tying the purchase of a product to an environmental organization or event

  1. Cause – Related: Marketing that ties a company and its products to an issue or cause with the goal of improving sales or corporate image while providing benefits to the cause. 4 types of consumers:  Skeptic  Balancer – believes in it but does it only for the convenience  Attribution – Oriented – Doing it for the right reason but concerned about the motive.  Socially – Concerned – Believe it and will support it. **3. Marketing to Gay and Lesbian Consumers
  2. Gender – Based Marketing:**

 Ascribed Roles – Something you were born with Vs.  Achievement Roles – Something you work for.  Gender Identity vs. Gender Roles  Traditional vs. Modern Gender Orientation  Market Segmentation Based on Role Identity  Product Strategy  Marketing Communications  Retailing Strategy Gender – Based Market Segmentation

  1. Traditional Housewife
  2. Trapped Housewife (wants to work)
  3. Trapped Working Woman (wants to stay at home)
  4. Career Working Woman Gender – Based Product Strategy: Move Beyond Stereotypes – rather than adapting colors to fit stereotypes (e.g. pink power tools), companies are adapting their features in ways that make their products more functional. Chapter 4 Outline: The Changing American Society – Demographics and Social Stratification

 Xers are more highly educated than previous generations  Xer women are more highly educated than Xer men  Xers are getting married, having families and facing the time pressures  Reaching Xers requires special attention to media particularly online  Generally dual income  This generation started seeing divorce rates go up  Typically pay for – lawn care, babysitters, home theaters, piano/soccer practices  This generation started the online experience Generation Yers: A Closer Look  Really two sub-markets: Older Teens and Young Adults  Expected to have the highest education of previous generations with incomes to follow  Very tech savvy with media options including internet, cell phones, and video games  A strong market for automobiles with brands Social Stratification

  1. Social Rank and Social Class System
  2. Status Crystalization
  3. The Derived Nature of Social Class
  4. The Coleman-Rainwater Hierarchy
  5. The Measurement of Social Class
  6. Social Stratification and Marketing Strategy The Measurement of Social Class: Two basic approaches to measuring social status:
  7. Single –Item Index
  8. Multi-Item Index – out of all three (income, occupation, education) occupation is always weighted more  Hollingshead Index of Social PositionIndex of Social Position (ISP) Social Standing is Derived and Influences Behavior

The Coleman-Rainwater Social Class Hierarchy Middle Americans